API PHARMA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
API PHARMA
Largest movements
- Cash +€43,480
up €43,480 (+93.2%), from €46,660 to €90,141
mainly Net result for the year (+€33,164) and Tax, wage and social debts (+€10,054)
- Tangible fixed assets -€8,652
down €8,652 (-36.5%), from €23,689 to €15,037
- Profit (loss) carried forward +€32,331
up €32,331 (+91.7%), from €35,239 to €67,569
- Tax, wage and social debts +€10,054
up €10,054 (+57.3%), from €17,551 to €27,605
of which Taxes: +€10,054
- Debts after one year -€6,750
down €6,750 (-59.2%), from €11,397 to €4,648
- Trade debts -€1,269
down €1,269 (-72.0%), from €1,761 to €493
- Depreciation +€6,382
up €6,382 (+281.3%), from €2,269 to €8,652
- Gross operating margin +€2,556
up €2,556 (+5.1%), from €50,122 to €52,678
- Other operating charges -€2,360
down €2,360 (-86.6%), from €2,726 to €365
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,294 | €116,460 | +€35,165 | +43.3% |
| Fixed assets | 21/28 | €23,689 | €15,037 | -€8,652 | -36.5% |
| Tangible fixed assets | 22/27 | €23,689 | €15,037 | -€8,652 | -36.5% |
| Furniture and vehicles | 24 | €23,689 | €15,037 | -€8,652 | -36.5% |
| Current assets | 29/58 | €57,606 | €101,423 | +€43,817 | +76.1% |
| Amounts receivable within one year | 40/41 | €10,945 | €10,992 | +€47 | +0.4% |
| Trade receivables | 40 | €10,945 | €10,992 | +€47 | +0.4% |
| Cash at bank and in hand | 54/58 | €46,660 | €90,141 | +€43,480 | +93.2% |
| Deferred charges and accrued income | 490/1 | - | €290 | +€290 | |
| Total equity and liabilities | 10/49 | €81,294 | €116,460 | +€35,165 | +43.3% |
| Equity | 10/15 | €37,239 | €69,569 | +€32,331 | +86.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,239 | €67,569 | +€32,331 | +91.7% |
| Amounts payable | 17/49 | €44,056 | €46,890 | +€2,835 | +6.4% |
| Amounts payable after more than one year | 17 | €11,397 | €4,648 | -€6,750 | -59.2% |
| Financial debts | 170/4 | €11,397 | €4,648 | -€6,750 | -59.2% |
| Amounts payable within one year | 42/48 | €32,658 | €42,243 | +€9,585 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €6,493 | €6,750 | +€256 | +3.9% |
| Trade debts | 44 | €1,761 | €493 | -€1,269 | -72.0% |
| Suppliers | 440/4 | €1,761 | €493 | -€1,269 | -72.0% |
| Taxes, remuneration and social security | 45 | €17,551 | €27,605 | +€10,054 | +57.3% |
| Taxes | 450/3 | €15,951 | €26,005 | +€10,054 | +63.0% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €6,852 | €7,395 | +€543 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,269 | €8,652 | +€6,382 | +281.3% |
| Other operating charges | 640/8 | €2,726 | €365 | -€2,360 | -86.6% |
| Gross operating margin | 9900 | €50,122 | €52,678 | +€2,556 | +5.1% |
| Operating profit (loss) | 9901 | €45,127 | €43,660 | -€1,466 | -3.2% |
| Financial charges | 65/66B | €278 | €709 | +€431 | +154.9% |
| Recurring financial charges | 65 | €278 | €709 | +€431 | +154.9% |
| Profit (loss) for the period before taxes | 9903 | €44,849 | €42,951 | -€1,897 | -4.2% |
| Income taxes | 67/77 | €9,873 | €9,788 | -€85 | -0.9% |
| Profit (loss) for the period | 9904 | €34,976 | €33,164 | -€1,812 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,976 | €33,164 | -€1,812 | -5.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.